According to the report, the global DNA sequencing products market
reached a value of US$ 3 Billion in 2017. On account of the below
factors, the market is expected to reach a value of US$ 9 Billion by
2023, exhibiting a CAGR of around 19% during 2018-2023.

The Human Genome Project (HGP) was the first joint initiative by various
organizations to map the human genome which took nearly 13 years to
complete along with a huge investment. Since the completion of this
project, a major transformation has been witnessed in the DNA sequencing
technologies.

New-age technologies have been developed such as 454 sequencing or
Illumina sequencing which involve low cost and deliver results in
shorter period of time. Owing to the declining costs of sequencing, many
countries are investing in the process which impels the growth prospects
of the market. Further, the market is anticipated to be boosted by the
rising demand for personalized medicines.

The report has segmented the global DNA sequencing products market on
the basis of product type. Currently, consumables and reagents dominate
the market, followed by equipment.

The market is also segregated on the basis of applications covering
research organizations, and hospitals, pharmaceutical and life science
companies. The research organizations sector is the largest application
area, accounting for the majority of the global share.

Region-wise, North America is the leading market for DNA sequencing
products. It is followed by Europe, Asia Pacific, Latin America, and
Middle East and Africa.